Possible scenario

BAAJA Costs Implemented

its chance, of the story’s futures

−0.5%on the S&P 500, if it happens

The most likely outcome is that the BAAJA framework survives initial political scrutiny and becomes the default template for assigning transmission upgrade costs to very large data-center loads. Utilities and state commissions use the law to protect residential and small-business customers while hyperscalers absorb higher interconnection and grid-capacity charges.

What it moves

Utilities+1.5%
Technology−1.2%
Telecommunications−0.5%
Industrials+0.4%

Sectors in percent; other series by direction only.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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